German Accelerator Tech alumnus Celonis raises $27.5M in its first external funding round led by Accel Partners and 83North

Palo Alto, CA (July 1st, 2016)

Celonis raised $27.5M in its first external funding round led by Accel Partners and 83North earlier this year. The company was launched by three University students in Munich 2011 and bootstrapped without external investors. Celonis turned profitable after just one year of operation and has been growing over 4000 percent since. Last year Deloitte, who is also using Celonis’ technologies named Celonis the strongest growing German technology company.

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“We are very excited about Celonis’ achievements and congratulate Celonis on the successful funding round and the new partnerships in their pursuit to further global expansion. With Celonis we could assist another astonishing German technology company to foster strategic partnership within the U.S. business ecosystem, facilitating their growth in the U.S. market and rise among global ranks. Celonis responds to the growing demand of global companies to gain insights of their complex processes and achieve full digital transformation. Celonis has the potential to radically change the way business intelligence and business consulting across industries is performed globally”, said Dirk Kanngiesser, CEO of the German Accelerator.

Bastian Nominacher, Celonis Co-Founder and Co-CEO on German Accelerator’s role: “With its high class network and strong support, German Accelerator was an invaluable asset when we took our first steps into the U.S. market. Today, we’re happy to be part of the GA Alumni network and being able to keep in touch with many of the successful startups we met back in the day.”

After winning clients among some of the largest German and European companies, Celonis sets out to scale globally. The company secured a reseller deal with German tech giant SAP and is available to business clients around the world via SAP’s own platform. With the additional funding Celonis will build up their sales department and upgrade technologies, to continue rapid global expansion, with a strong focus on the U.S. market. “Our goal is to create a new category in the analytics space and bring process mining technology to customers all around the world. With Accel Partners and 83North we gained two strong partners with a lot of experience with large scale globally operating IT companies that understand the challenges of global expansion and are able to create a unicorn”, said Alexander Rinke, cofounder of Celonis.

Celonis is a pioneer and market leader in process mining, the company offers a toolkit for automated analysis and optimization of IT supported business processes. Celonis’ groundbreaking technologies are used by over 200 companies around the globe, including KPMG, Deloitte, Bayer AG, Siemens, Vodafone and Airbus to monitor and optimize their business processes in real time, using Big Data technologies and state of the art visualization. With Celonis’ process mining technologies, business clients can improve their performance up to 30 percent.

 

About German Accelerator:

The German Accelerator Tech program is a growth acceleration program that supports German startups from tech related sectors to enter the U.S. market. It provides startups with hands-on monitoring and office space at its locations in Silicon Valley, San Francisco, and New York City. German Accelerator identifies and selects the most promising German startups and assists them in their pursuit of becoming category leaders with lasting competitiveness and success in the global market place. The accelerator’s vision is to establish a permanent bridge between Germany and the U.S. that facilitates transatlantic startups, provides inspiration and drives demand, innovation, research, and development in Germany.

For more information and to submit an application visit germanaccelerator.com, engage on Facebook or follow us on Twitter.

 

Press Contact:

German Accelerator, Inc.
720 University Avenue, Palo Alto, CA 94301
Email: info@germanaccelerator.com

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